The University of Rochester's Simon Business School's move to West Broadway will open an opportunity for it and New York Law School to share their curricula.

The University of Rochester's Simon Business School will move to 185 West Broadway.

The University of Rochester’s Simon Business School is moving downtown to TriBeCa, where it will take space in an academic building owned and occupied by New York Law School.

The Simon Business School, which has about 200 students in the city, is relocating to 185 West Broadway, between Worth and Leonard streets, from 1601 Broadway in midtown. Its new space will offer students a more traditional academic environment—a library, dedicated classroom space and other amenities such as an auditorium and meeting rooms. The schools did not disclose details of the deal.

“This gives our students a much nicer space to work in [at] a beautiful location of the city," said Janet Anderson, the executive director of professional programs at the Simon Business School. “We look at this as a real growth opportunity for us.”

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Both schools will be able to occupy 185 West Broadway because Simon Business School’s programs are offered only on weekends, while New York Law School runs classes during the week and on weeknights.

“We have this whole building that’s basically empty on the weekends,” said Anthony Crowell, the dean and president of New York Law School. “It made it a perfect fit for both institutions.”

Both Mr. Crowell and Ms. Anderson said one of the biggest opportunities to arise from being under the same roof was the potential to integrate legal and business education. New York Law students can take business classes, and business school students can take law courses, Mr. Crowell said. The move will allow Simon Business School and New York Law School to offer their students access to each other's curriculum. The schools are sorting out the details of such a collaboration.

“Lawyers more and more are expected to understand business and have that kind of education,” said Mr. Crowell, adding that the schools may create joint degree programs. “We’re both interested in adding value for our students in the legal and business marketplaces.”